Low Carbon Accelerator releases Annual Report and Accounts

Low Carbon Accelerator Limited ("LCA" or "the Company") (UK) announces its results for the year ended 30 November 2008. Highlights of the report: LCA has well diversified portfolio set to benefit from green stimulus package in US and EU; Proactive investment strategy to maximise returns from existing portfolio companies rather than seek new investment during current economic conditions; LCA is entering a phase of positive NAV growth as portfolio companies performing well; Fund returns to be enhanced by maximising exposure to star performers in portfolio.

Commenting on the results, Andrew Affleck, Executive Chairman of Low Carbon Investors, LCA’s investment manager said: "As the first listed venture fund in the low-carbon sector, LCA is a pioneer in its field and has seen strong progress across many of its portfolio of 13 investee companies. However, as a pioneer, it is far from immune to market conditions and has had to take some proactive and decisive steps to adapt to the changing economic conditions, particularly the downturn in the building and building materials sector, by focusing its resources and capital onto those investees that have the strongest growth prospects over the next two years."

"It is the investment manager’s belief that strong legislative drivers worldwide, coupled with social demand over environmental concerns, continue to make the low-carbon sector an attractive market for investment. The share price is trading at a large discount to NAV but the investment manager is expecting to see the first increases in NAV based on this existing portfolio of investments during the next year."